Karimnagar: The Telangana State Cooperative Apex Bank (TSCAB) has set a business target of Rs 16,000 crore for the financial year 2021-22.
The Apex bank had a business turnover of Rs 13,300 crore in the last financial year, exceeding the target of Rs 12,000 crore.
During the last financial year, the TSCAB’s gross profits increased to Rs 67.20 crore against Rs 51.15 crore in 2019-2020. Since the formation of TSCAB in 2015, 2020-21 was the best year for the Apex bank as it surpassed all its targets despite the outbreak of Covid-19 pandemic and subsequent lockdown.
The Apex bank, gearing up for the financial year 2021-2022, conducted review meetings with the branch managers of 42 branches and the CEOs of all the nine District Cooperative Central Bank (DCCB) and allocated fresh targets for various purposes for the year 2021-2022.
TSCAB chairman Konduru Ravinder Rao and Managing Director Dr N Muralidhar said they had fixed fresh loan targets through DCCBs at Rs 6,970 crore for short-term seasonal agricultural operations (ST-SAO), Rs 345 crore for long term loans, Rs 250 crore for women SHGs, Rs 130 crore for non-farm sector term loans, Rs 80 crore for non-farm sector cash credit, Rs 56 crore for joint liability and Rs 366 crore for non-agricultural gold loans.
They said the Apex bank achieved almost all the business targets set for the financial year 2020-21. Out of 42 branches of the TSCAB, only one branch incurred losses against five branches the previous year. All the nine DCCBs in the State earned profits, they added.
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